The Gunners are chasing Christoph Kramer, Lucas Silva and Marco Reus, who have been linked with Real, but the Spanish side's president, Florentino Perez, admits they will be quiet in the transfer market next month.

He said: "Except for extraordinary circumstances, no signings will be made in the January transfer window and now there is nothing."

INJURIES: Arsene Wenger is set to be without nine first team player for this weekend's game against Liverpool [GETTY]